April 26, 2012 |
Extending a long stay near record lows, fixed mortgage rates edged lower this week, with lenders offering the typical 30-year loan to solid borrowers at 3.88%, down from 3.9% last week, according to giant loan buyer Freddie Mac. In the 21 weekly surveys that Freddie Mac has released starting Dec. 8, only one has shown the 30-year average above 4%. The record low of 3.87%, statistically no different from this week's reading, was recorded on...
June 11, 2003 |
Congressional critics of Freddie Mac said Tuesday that they would hold hearings on the home mortgage financier that ousted its top management Monday over an earnings restatement going back to 2000. Meanwhile, the Securities and Exchange Commission was investigating whether Freddie Mac has violated securities laws, a person close to the matter said. Rep. Richard H. Baker (R-La.
March 4, 2013 |
WASHINGTON - The federal regulator for Fannie Mae and Freddie Mac took the first major step toward possibly shutting down the taxpayer-rescued firms by deciding to merge some functions of the mortgage financing giants into a new company. The Federal Housing Finance Agency plans to create a “new business entity” that would package home loans owned or guaranteed by the companies into mortgage-backed securities, Edward J. DeMarco, the agency's acting director, said Monday. The goal is to create a vehicle that could replace the nation's biggest mortgage backers should Congress decide to do that as part of a still-pending overhaul of the housing finance market, DeMarco said.
March 7, 2013 |
Unlike the rampaging stock market, mortgage rates are in a holding pattern, with lenders offering the 30-year fixed loan this week at an average 3.52%, up from 3.51% last week, Freddie Mac said in its weekly survey. The interest rate on a 15-year fixed loan, a popular choice for borrowers refinancing mortgages, held steady at 2.76%, Freddie said Thursday. Borrowers would have paid 0.7% of the loan amount in upfront fees to the lender. QUIZ: How much do you know about mortgages?
March 28, 2013 |
Borrowers with solid credit were being offered 30-year fixed home loans at an average 3.57% this week, up from 3.54% a week ago, according to Freddie Mac 's latest survey. The average offering rate for a 15-year mortgage -- a popular option for those refinancing homes -- rose from 2.72% to 2.76%, the home-finance firm said Thursday. The starting rate for loans that are fixed for five years before becoming variable rose to 2.61% from 2.68%, the survey found. QUIZ: How much do you know about mortgages?
March 12, 2010 |
The average interest rate on a 30-year fixed-rate mortgage dropped to 4.95% this week from 4.97% last week, Freddie Mac said Thursday. The mortgage giant's weekly survey asks lenders what rates they were offering -- and the upfront fees they would charge -- for borrowers with good credit and a 20% down payment. Upfront fees averaged 0.7% of the loan amount. The average rate offered on 15-year fixed-rate mortgages, popular as a refinance loan for borrowers wanting to pay off their mortgages faster, was 4.32%.
August 14, 2013 |
Fixed mortgage rates held steady this week, according to home finance giant Freddie Mac, with lenders offering the 30-year home loan at an average of 4.4%, the same as last week. The average rate for a 15-year fixed loan was 3.44% compared to 3.43% a week ago, which is statistically unchanged. Start rates on adjustable mortgages were slightly higher, according to McLean, Va.-based Freddie Mac. The 30-year fixed rate hit an all-time low of 3.31% last November. The current higher rate would mean a person borrowing $200,000 now would pay $125 more per month compared with a person who borrowed when the rate was at its lowest, said Frank Nothaft, Freddie Mac's chief economist.
September 4, 1985
Kenneth J. Thygerson resigned Tuesday as president of the Federal Home Loan Mortgage Corp., a quasi-governmental agency better known as Freddie Mac, to join a San Diego-based S&L. Thygerson, who has headed Freddie Mac since August, 1982, is leaving effective Sept. 15 to become president and chief executive of Imperial Corp. of America, a savings and loan holding company with branches in California, Kansas and Colorado and assets of $8.5 billion. He succeeds Matthew Shevlin Jr.
July 21, 2010 |
A congressional investigation has found that Countrywide Financial Corp. made 173 preferential mortgage loans to employees of housing finance giants Fannie Mae and Freddie Mac, which purchased many of the company's loans. The mortgages were made as part of Countrywide's VIP program, known informally as "Friends of Angelo" for former Countrywide Chief Executive Angelo R. Mozilo. The program offered discounted rates and other perks. Previous investigations found that VIP loans were given to some influential Washington players, including Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.